In lieu of a performance bond in the amounts required by the provisions of Section 5.28.2520 of this chapter, a licensee may elect and provide a performance bond otherwise comporting with the requirements of Section 5.28.2520 of this chapter in the amount of two million five hundred thousand dollars ($2,500,000.00) for the entire period of the term of a license. Upon the proper posting of such alternative bond, the commission shall return performance bonds previously provided for such license or licenses pursuant to the provisions of this chapter. (Prior code § 20.17.1601)